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KRISHNAN RAMASAMY
P. Sivagurunathan – Appellant
Versus
Dugar Finance & Investments Limited, Rep. By its Authorized Signatory, Rajasekar, Chennai – Respondent
JUDGMENT
(Prayer: Arbitration Original Petition filed under Section 34 (2) (iii) (V) (b) (ii) of the Arbitration and Conciliation Act, 1996, to set aside the award dated 25.03.2022 passed by the sole Arbitrator in his proceedings in Arbitration Claim Petition No. LDG 305 of 2021.)
1. This Arbitration Original Petition has been filed by the petitioner seeking to set aside the award dated 25.03.2022 passed by the learned sole Arbitrator.
2. The case of the petitioner is that the petitioner has entered into Hypothecation-cum-loan Agreement with the respondent and borrowed a sum of Rs.4,50,000/- by virtue of Loan Agreement No. HP 9261 dated 26.02.2015 for the purchase of vehicle namely SCORPIO, bearing registration No. TN 73W 1333. The petitioner has admitted the fact about the disbursement of the said loan. As per the terms and conditions of the aforesaid agreement, the petitioner has to repay the total sum in the form of 36 equated monthly installments of Rs.18,500/-p.m. The petitioner further submitted that after the purchase of the said vehicle, the 1st respondent got the original RC book and gave promise to return it, but failed to issue the original RC book even after several repeat
Unilateral appointment of an arbitrator in violation of Section 12(5) of the Arbitration and Conciliation Act, 1996 renders the award unsustainable under law and against the public policy of India.
Unilateral appointment of an arbitrator without proper notice and in violation of statutory provisions renders the resulting award unsustainable and against the public policy of India.
The main legal point established in the judgment is that the appointment of the sole arbitrator unilaterally by one of the parties was improper and impermissible, violating the provisions of Section ....
A unilateral appointment of an arbitrator by one party contravenes Section 12(5) of the Arbitration and Conciliation Act, rendering the arbitral award void ab initio and against public policy.
A unilateral appointment of an arbitrator by a party interested in the dispute is null and void under Section 12(5) of the Arbitration and Conciliation Act, 1996, as amended in 2015.
Unilateral appointment of an arbitrator by a party with vested interests breaches principles of fairness and impartiality, rendering such appointment invalid under arbitration laws.
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